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Gold/Mining/Energy : Thunderwood Resources (T.THS) -- Ignore unavailable to you. Want to Upgrade?

To: Brian MacDonald who wrote (19)	2/21/1998 12:11:00 AM
From: Brian MacDonald	Read Replies (1) \| Respond to of 36

Here's some new news on the drill program at the Lew property in Manitoba. ============ FOR FURTHER INFORMATION PLEASE CONTACT: Thunderwood Resources Inc. Mr. John B. Heslop, President 416-362-8730 E-mail at info@thunderwood.com or visit our website at www.thunderwood.com/explore or Consolidated Abitibi Resources Ltd. Dr. James W. Gill, President 416-362-4699 NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: THUNDERWOOD RESOURCES INC. TSE SYMBOL: THS OTC Bulletin Board SYMBOL: TWDRF AND CONSOLIDATED ABITIBI RESOURCES LTD. ME SYMBOL: CAQ FEBRUARY 20, 1998 Thunderwood Resources Inc. and Consolidated Abitibi Resources Ltd. High Grade Copper and Gold Mineralization Intersected on the Lew Copper-Zinc-Gold Property in Manitoba TORONTO, ONTARIO--Thunderwood Resources Inc. and Consolidated Abitibi Resources Ltd. announce that high grade copper and gold mineralization has been intersected within two separate zones during their on-going diamond drilling program on the Lew volcanogenic copper-zinc-gold property which is located approximately 20 kilometers east of Flin Flon, Manitoba. Hole 98-LW-16 intersected 38.5 g/t Au and 49.8 g/t Ag over 10.0 feet from 37.5 to 47.5 feet and 5.4 percent Cu over 10.0 feet from 1488.0 to 1498.0 feet down the hole. Other significant intersections from the current drill program include 1.9 percent Cu over 4.0 feet and 4.8 percent Cu over 2.2 feet in 98-LW-12, 2.6 percent Cu over 4.8 feet in 98-LW-14 and 2.3 percent Cu over 2.5 feet and 1.2 percent Cu over 38.0 feet, including 2.6 percent Cu over 6.0 feet, in 98-LW-16 (see attached table). The high-grade gold mineralization is associated with minor amounts of pyrite and chalcopyrite in quartz-carbonate veins that occur within a sericitic quartz porphyry. No visible gold was noted. The 10.0 foot interval comprises four individual samples that have been re-assayed three times by fire assay with an atomic absorption finish. The results have also been re-confirmed by metallic sieve analysis. All of the copper mineralization intersected during the current program, with the exception of a narrow interval of massive sulphides in hole 98-LW-12, occurs as stringers, with or without pyrite, within moderately to intensely altered felsic volcanics. This style of copper mineralization suggests that an extensive hydrothermal alteration zone exists on the Lew property. Similar alteration zones containing copper mineralization are often associated with gold-rich, massive sulphide deposits in the Flin Flon camp. The on-going drill program is designed to test the depth extent of copper-gold mineralization known to occur south of Leo Lake, to further evaluate the new gold mineralization discovered on the property in the fall of 1997 and to test various IP and EM geophysical conductors and zones of hydrothermal alteration that were defined during 1997. Hole 98-LW-12 confirms that the copper mineralization that assayed 4.2 percent Cu over 7.6 feet, 2.5 percent Cu over 9.8 feet and 2.7 percent Cu over 4.0 feet from three prior holes at a vertical depth of between 50 and 200 feet extends to a depth of 400 feet and is still open at depth and along strike. Holes 98-LW-14 and 16 were targeted at the 1,000 foot level to follow-up an off-hole Pulse EM anomaly that was identified in 1997 as follow-up to high grade copper mineralization intersected in 98-LW-3 that assayed 2.3 percent Cu over 67.0 feet, including 17.0 percent Cu, 2.0 percent Zn, 76.3 g/t Ag and 2.0 g/t Au over 3.2 feet and 8.4 percent Cu over 23.8 feet at an approximate depth of 475 feet. Hole 98-LW-17 is currently in progress and has been collared to further evaluate the depth potential of both the high grade gold and copper mineralization intersected in 98-LW-16. Upon completion of hole 98-LW-17, the Lew drill program will be suspended for a period of two weeks so that the drill can be moved to the Mystic Lake base metal property in Saskatchewan in order to drill two previously untested airborne EM anomalies before lake ice conditions deteriorate. These two anomalies occur approximately 3 kilometers northeast, along trend from and in a similar geological environment to, the past-producing Coronation Mine that produced 1,280,000 tonnes grading 4.3 percent Cu, 0.3 percent Zn and 1.9 g/t Au. This drill will then be moved back to the Lew property where it is anticipated that another hole to test the high grade copper mineralization intersected in 98-LW-16 and two or three short holes to further define the high grade gold mineralization will be completed before break-up. Thunderwood and Abitibi also announce that a $350,000 exploration program consisting of 2,000 meters of diamond drilling in seven holes, lithogeochemical sampling and downhole Pulse EM geophysical surveys has commenced on the Bruce Morgan and Reed Lake volcanogenic base metal properties which are located approximately 18 kilometers southwest of Snow Lake, Manitoba in the Snow Lake volcanic belt. The Bruce Morgan property hosts the Morgan Lake massive sulphide deposit which contains 200,000 tonnes grading 8.0 percent Zn. Two holes will test hydrothermal alteration zones that occur along the Bruce Morgan horizon and two holes will test undrilled airborne EM anomalies that occur in geology favourable for the occurrence of massive sulphides elsewhere on the property. Three holes are also planned for the Reed Lake property where previous drilling in 14 holes has defined a hydrothermal alteration zone containing abundant garnet-chlorite-biotite-staurolite with minor copper-zinc sulphides up to 62.0 feet thick over a strike length of 1,000 feet and to a depth of 600 feet. The best intersection from previous drilling was 0.3 percent Cu, 0.3 percent Zn, 10.3 g/t Ag and 0.9 g/t Au over 62.0 feet at a depth of 325 feet. Similar alteration zones, also anomalous in precious metals, accompany the major base metal deposits in the Snow Lake area and the possibility exists that a massive sulphide deposit could be associated at depth with such an alteration zone. /T/ 1998 LEW DIAMOND DRILLING PROGRAM SIGNIFICANT INTERSECTIONS Core Hole Grid Az Dip Interval Length Cu Ag Au # Loca- (degree)(degree) (ft) (ft) (per- (g/t) (g/t) tion cent) (ft) 98-LW-8 20+00N/ 125 -50 311.4-312.4 1.0 1.7 155+50E 98-LW-10 17+00N/ 125 -50 387.0-388.0 1.0 2.0 155+40E 98-LW-11 17+00N/ 035 -50 375.0-378.0 3.0 1.3 159+50E 497.0-499.5 2.5 1.3 821.0-828.5 7.5 1.1 1003.5-1006.2 2.7 1.3 98-LW-12 14+50N/ 125 -50 93.0-97.0 4.0 156+00E (xx)514.3-516.5 2.2 4.8 10.0 0.4 98-LW-14 19+25N/ 125 -60 441.0-444.0 3.0 1.0 152+00E 1208.1-1212.9 4.8 2.6 2.8 0.4 98-LW-15 44+00N/ 170 -60 853.0-856.0 3.0 21.0 1.2 148+00 931.8-932.8 1.0 3.2 2.5 98-LW-16 20+15N/ 125 -60 37.4-47.5 10.0 49.8 38.5 152+90E 74.5-79.5 5.0 1.3 1.2 247.3-258.0 10.7 1.7 1.1 1242.5-1245.0 2.5 2.3 1271.0-1309.0 38.0 1.2 (x)1291.0-1297.0 6.0 2.9 1488.0-1498.0 10.0 5.4 5.0 0.7 (x) including (xx) massive sulphides /T/ -30-